(Yicai) Oct. 20 -- Chinese video streaming site Bilibili will join hands with Chinese e-commerce giants Alibaba Group Holding, JD.Com, and Pinduoduo to expand its e-commerce business for this year's Double 11 Shopping Festival.

Bilibili will establish in-depth cooperation with Alibaba, JD.Com, and Pinduoduo, including adding a Double 11 section to its mobile app to display promotional products and redirect users to Alibaba's platform Tmall, the Shanghai-based company announced yesterday.

Double 11 was originally an online promotional event held by Alibaba's Taobao and Tmall on Nov. 11. Then, it gradually evolved into an annual shopping gala for the whole Chinese e-commerce industry. Double 11 now starts as early as the end of October.

During this year's Double 11, Bilibili will also provide online marketing services and traffic subsidies to sellers and encourage more content creators to participate in e-commerce livestreaming events, Yicai learned from the company.

Bilibili aims to break even next year, Chief Executive Officer Chen Rui said earlier. To this end, Bilibili focused on its e-commerce business this year.

In the first half of the year, the number of advertising videos uploaded on Bilibili surged more than 800 percent from a year earlier, with 30 million users redirected to e-commerce platforms to buy goods by clicking a link in the comment section, the company said. 

Thanks to the above efforts, Bilibili’s net loss narrowed 23 percent to CNY1.5 billion (USD213.5 million) in the second quarter from the same period last year, while revenue rose 8 percent to CNY5.3 billion, according to the firm's latest earnings report.

Chinese lifestyle platform Xiaohongshu, also known as Little Red Book, is also developing an e-commerce business this year. The Shanghai-based firm said last month it will redirect tens of billions of views to merchants through its livestreaming, search, shopping malls, and other sections during the Double 11 Shopping Festival. It also plans to give users hundreds of millions of Chinese yuan in coupons.

Editors: Dou Shicong, Futura Costaglione